"South Pointe" - The twin of "Luxe On South"!!!

Just a block from our first new construction, 3-town-home, project "Luxe On South", we now have a second lot under contract with the plan to build an identical twin: "South Pointe".

It just so happened that we were scoping out the neighborhood to see what building style would complement the neighborhood for the Luxe On South town homes, when we noticed another lot for sale only a block down from our property. Since we just purchased a lot a lot on this street, we already knew the market in this area, had done our due diligence, and were confident about the ARV.  We decided to contact the owner to see what price he wanted.

The seller was willing to negotiate and after visiting him twice, we all agreed on a purchase price with a 6 month option to close. Additionally we negotiated a lease-back to the seller from the time of closing until May 2017. The seller felt that he needed this much time to find a place to relocate and this worked out very well for us too; it gave us time to start the Luxe On South project just one block up and then move right into this one. The building plans would be exactly the same because the lots were zoned the same and they were identical in square footage. 

We have learned that it is important to take the time and get to know your sellers. Even though it may not appear this way, real estate is very much a 'people business' and everybody has a story and/or concerns when selling their property. The seller of this particular property is a retiree and he is - should we say - "leery" of digital communications and so we agreed to have all paperwork done the 'old fashioned' way through personal meetings and snail-mail.

Closing is now set for October 7th, 2016. Stay tuned...